Panama

Abstract

Wikipedia Country Information

Panama ( PAN-ə-mah; Spanish: Panamá [panaˈma]), officially called the Republic of Panama (Spanish: República de Panamá), is a country in Central America. It is bordered by Costa Rica to the west, Colombia (in South America) to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital and largest city is Panama City, whose metropolitan area is home to nearly half of the country's 4 million people.
Panama was inhabited by several indigenous tribes prior to settlement by the Spanish in the 16th century. Panama broke away from Spain in 1821 and joined a union of Nueva Granada, Ecuador, and Venezuela named the Republic of Gran Colombia. When Gran Colombia dissolved in 1831, Panama and Nueva Granada remained joined, eventually becoming the Republic of Colombia. With the backing of the United States, Panama seceded from Colombia in 1903, allowing the Panama Canal to be built by the U.S. Army Corps of Engineers between 1904 and 1914. In 1977 an agreement was signed for the transfer of the Canal from the United States to Panama by the end of the 20th century, which culminated on December 31, 1999.
Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. In 2015 Panama ranked 60th in the world in terms of the Human Development Index. Since 2010, Panama has been the second-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index. Covering around 40% of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them found nowhere else on the planet.


Summary
Instruments ratified: 129 / 282
World Average Ratifications: 114 / 282
Ratification rate: 48.85%
World Average Rate: 41.25%
Weighted score: 54.26%
World Average Weighted Score: 41.25%
World rank: 50 / 194
Central America rank: 2 / 8
Central America Avg. Ratifications: 112 / 282
Developing country rank: 10 / 87
Developing country Avg. Ratifications: 109 / 282
Comparative Statistical Analysis
CONTRACTS Inst. ratified Country score World avg. score Country rank in world Strength
Agency 0/2 0.00% 2.00% 8 Weak
Conflict of laws 0/7 0.00% 3.00% 27 Weak
E-commerce 1/3 (33.33%) 33.33% 18.00% 33 Strong
Franchising 0/1 0.00% 0.00% 1 Average
Leasing/Factoring 1/2 (50.00%) 50.00% 5.00% 8 Strong
Principles, trade usages and standards 0/2 0.00% 0.00% 1 Average
Procurement 0/4 0.00% 3.00% 31 Weak
Sale of Goods 0/5 0.00% 25.00% 89 Weak
Travel contracts 0/1 0.00% 3.00% 7 Weak
Total 2 11.59% 9.00% 72 Strong
 
CUSTOMS Inst. ratified Country score World avg. score Country rank in world Strength
Customs Codification 2/3 (66.67%) 100.00% 78.00% 1 Strong
Customs Cooperation 0/6 0.00% 26.00% 117 Weak
Exemption from Duties 0/9 0.00% 30.00% 133 Weak
Temporary Admission 0/11 0.00% 28.00% 126 Weak
Transit 0/4 0.00% 28.00% 98 Weak
Total 2 5.43% 31.00% 151 Weak
 
DISPUTE RESOLUTION Inst. ratified Country score World avg. score Country rank in world Strength
Arbitration 1/6 (16.67%) 25.00% 32.00% 86 Weak
Judicial cooperation 1/5 (20.00%) 26.32% 36.00% 76 Weak
Recognition of foreign judgments 0/2 0.00% 2.00% 6 Weak
State court jurisdiction 0/4 0.00% 14.00% 29 Weak
State court procedure 0/1 0.00% 6.00% 12 Weak
State immunities 0/1 0.00% 11.00% 22 Weak
Total 2 20.00% 29.00% 95 Weak
 
ENVIRONMENT AND PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Air 5/5 (100.00%) 100.00% 86.00% 1 Strong
Chemicals 1/1 (100.00%) 100.00% 78.00% 1 Strong
Energy 0/2 0.00% 25.00% 50 Weak
Flora and fauna 9/10 (90.00%) 89.13% 68.00% 17 Strong
Foodstuff 2/2 (100.00%) 100.00% 79.00% 1 Strong
General 1/1 (100.00%) 100.00% 95.00% 1 Weak
International watercourses 0/1 0.00% 18.00% 36 Weak
Maritime and Law of the Sea 14/26 (53.85%) 56.52% 46.00% 73 Strong
Protected geographical areas 0/1 0.00% 27.00% 54 Weak
Waste 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 33 73.44% 61.00% 43 Strong
 
FINANCE, PAYMENTS AND INSOLVENCY Inst. ratified Country score World avg. score Country rank in world Strength
Assignment of receivables 0/1 0.00% 1.00% 2 Weak
Bankruptcy and insolvency 0/1 0.00% 21.00% 41 Weak
Bills of exchange and promissory notes 0/4 0.00% 8.00% 43 Weak
Cheques 0/3 0.00% 13.00% 36 Weak
Credit transfers 0/1 0.00% 0.00% 1 Average
International guarantees 3/3 (100.00%) 100.00% 20.00% 1 Strong
Total 3 26.83% 12.00% 16 Strong
 
GOOD GOVERNANCE Inst. ratified Country score World avg. score Country rank in world Strength
Corruption 2/4 (50.00%) 66.67% 50.00% 34 Strong
Cultural Property 4/4 (100.00%) 100.00% 54.00% 1 Strong
Drugs 3/3 (100.00%) 100.00% 95.00% 1 Weak
Insider Trading 0/1 0.00% 4.00% 9 Weak
Organized crime 2/2 (100.00%) 100.00% 80.00% 1 Strong
Total 11 90.38% 68.00% 7 Strong
 
HUMAN RIGHTS AND LABOUR STANDARDS Inst. ratified Country score World avg. score Country rank in world Strength
Human Rights 7/7 (100.00%) 100.00% 96.00% 1 Weak
Labour Standards 7/8 (87.50%) 87.50% 86.00% 134 Weak
Total 14 93.33% 91.00% 126 Weak
 
INSTITUTIONAL PARTICIPATION Inst. ratified Country score World avg. score Country rank in world Strength
Dispute Resolution 1/1 (100.00%) 100.00% 39.00% 1 Strong
International Trade Law 8/10 (80.00%) 80.00% 73.00% 56 Average
Trade support institutions 3/6 (50.00%) 50.00% 51.00% 82 Weak
Total 12 70.59% 63.00% 69 Strong
 
INTELLECTUAL PROPERTY Inst. ratified Country score World avg. score Country rank in world Strength
Broadcasting 1/1 (100.00%) 100.00% 47.00% 1 Strong
Copyright 3/3 (100.00%) 100.00% 65.00% 1 Strong
Industrial designs 0/2 0.00% 31.00% 82 Weak
Integrated circuits 0/1 0.00% 2.00% 4 Weak
Neighboring Rights 3/3 (100.00%) 100.00% 46.00% 1 Strong
Origin 0/3 0.00% 14.00% 51 Weak
Patents 3/5 (60.00%) 71.43% 57.00% 60 Strong
Trademarks 1/6 (16.67%) 22.73% 33.00% 86 Weak
Varieties of plants 1/1 (100.00%) 100.00% 37.00% 1 Strong
Total 12 56.84% 42.00% 60 Strong
 
INVESTMENTS Inst. ratified Country score World avg. score Country rank in world Strength
Investment disputes 1/2 (50.00%) 50.00% 39.00% 2 Strong
Investment guaranty 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 2 66.67% 57.00% 2 Strong
 
PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Marine Resources 1/1 (100.00%) 100.00% 24.00% 1 Strong
Timber 1/1 (100.00%) 100.00% 31.00% 1 Strong
General 1/1 (100.00%) 100.00% 92.00% 1 Weak
Total 3 100.00% 53.00% 1 Strong
 
TRANSPORT AND TELECOMMUNICATIONS Inst. ratified Country score World avg. score Country rank in world Strength
Air transport 6/7 (85.71%) 85.71% 59.00% 47 Strong
Aircrafts and civil aviation 6/9 (66.67%) 88.00% 74.00% 37 Strong
Maritime shipping and load lines 10/13 (76.92%) 85.71% 66.00% 55 Strong
Maritime transport 6/12 (50.00%) 33.33% 27.00% 55 Strong
Multi modal transport 0/2 0.00% 4.00% 15 Weak
Rail transport 0/3 0.00% 22.00% 50 Weak
Road transport 0/4 0.00% 31.00% 86 Weak
Space 1/4 (25.00%) 16.67% 40.00% 103 Weak
Telecommunications 2/2 (100.00%) 100.00% 47.00% 1 Strong
Total 31 57.43% 50.00% 71 Strong
 
TREATIES LAW Inst. ratified Country score World avg. score Country rank in world Strength
General 1/4 (25.00%) 41.67% 30.00% 41 Strong
Total 1 41.67% 30.00% 41 Strong
 
WTO Inst. ratified Country score World avg. score Country rank in world Strength
Plurilateral Agreements 0/2 0.00% 18.00% 45 Weak
WTO Agreements 1/1 (100.00%) 100.00% 81.00% 1 Strong
Total 1 45.45% 47.00% 45 Weak
 
Strengths and Weakness
Strong
Contracts E-commerce
Contracts Leasing/Factoring
Customs Customs Codification
Environment and products Air
Environment and products Chemicals
Environment and products Flora and fauna
Environment and products Foodstuff
Environment and products Maritime and Law of the Sea
Finance, payments and insolvency International guarantees
Good Governance Corruption
Good Governance Cultural Property
Good Governance Organized crime
Institutional Participation Dispute Resolution
Intellectual property Broadcasting
Intellectual property Copyright
Intellectual property Neighboring Rights
Intellectual property Patents
Intellectual property Varieties of plants
Investments Investment disputes
Products Marine Resources
Products Timber
Transport and telecommunications Air transport
Transport and telecommunications Aircrafts and civil aviation
Transport and telecommunications Maritime shipping and load lines
Transport and telecommunications Maritime transport
Transport and telecommunications Telecommunications
Treaties law General
WTO WTO Agreements
 
Average
Contracts Franchising
Contracts Principles, trade usages and standards
Finance, payments and insolvency Credit transfers
Institutional Participation International Trade Law
 
Weak
Contracts Agency
Contracts Conflict of laws
Contracts Procurement
Contracts Sale of Goods
Contracts Travel contracts
Customs Customs Cooperation
Customs Exemption from Duties
Customs Temporary Admission
Customs Transit
Dispute resolution Arbitration
Dispute resolution Judicial cooperation
Dispute resolution Recognition of foreign judgments
Dispute resolution State court jurisdiction
Dispute resolution State court procedure
Dispute resolution State immunities
Environment and products Energy
Environment and products General
Environment and products International watercourses
Environment and products Protected geographical areas
Environment and products Waste
Finance, payments and insolvency Assignment of receivables
Finance, payments and insolvency Bankruptcy and insolvency
Finance, payments and insolvency Bills of exchange and promissory notes
Finance, payments and insolvency Cheques
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour Standards Human rights
Human Rights and Labour Standards Labour Standards
Institutional Participation Trade support institutions
Intellectual property Industrial designs
Intellectual property Integrated circuits
Intellectual property Origin
Intellectual property Trademarks
Investments Investment guaranty
Products General
Transport and telecommunications Multi modal transport
Transport and telecommunications Rail transport
Transport and telecommunications Road transport
Transport and telecommunications Space
WTO Plurilateral Agreements
Instruments ratifications

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